Carlyle scraps $1bn Arinc sale

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Private equity firm Carlyle Group has scrapped plans to sell US defence and aviation group Arinc, after failing to find a buyer for the firm in the past six months, several people familiar with the matter said. Carlyle, which hired Goldman Sachs to advise it on the $1bn (£651.4m) sale, is now thought to be pursuing an initial public offering. Carlyle declined to comment.